Solana Soars Past $138 : Can SOL Hit $200 or Is Another Crash Coming?

Solana (SOL) has exploded with bullish momentum as the crypto market springs back into action. According to CoinMarketCap, the token surged by 6.34% and is trading at around $138.72. Over the last seven days, SOL climbed nearly 7.61%, breaking out of a long consolidation phase and drawing fresh investor interest.

Rejected Governance Proposal Ignites Community Buzz

A major catalyst behind Solana’s recent rise is the buzz surrounding the SIMD-228 governance proposal. Multicoin Capital proposed this initiative to reduce SOL’s inflation rate from 8% to 1.5%, with a mechanism to adjust it based on staking activity.

The proposal saw 74% of the staked supply participate, but it fell short of passing—only 61.4% supported it, missing the required 66.7% threshold. Most small validators voted against it, fearing reduced staking rewards.

Even though the community rejected the proposal, it sparked widespread conversation and engagement. The high turnout showed that SOL’s governance remains vibrant and active—boosting investor confidence in the project’s long-term potential.

Classic Bullish Pattern Signals More Upside Ahead

Technical analysts, including Ali Martinez, pointed out that Solana’s price chart forms a cup-and-handle pattern—a historically bullish signal. If confirmed, this pattern often leads to significant upward price movement.

SOL recently smashed through the $135 resistance level with strong volume and consecutive green candles. If momentum continues, the price could soon push toward the $142–$145 range.

SOL may find support at $135 or $130 in case of a pullback. A deeper correction could bring it to the next key level at $125. However, as long as the bullish setup holds, many believe SOL could target much higher price points—some even speculating levels like $524.25 or a mind-blowing $3,800.

Will Solana Reach $200 by 2025?

Analysts remain cautiously optimistic about SOL’s journey toward $200. With strong market momentum, growing adoption, and continued positive sentiment, they believe Solana could reach this milestone by Q2 2025.

To get there, the token needs to break past the $145 and $160 resistance levels. If it does, it could open the door to even greater gains.

While Solana’s outlook looks promising, traders should remain alert for sudden pullbacks or shifts in sentiment. The current technical and governance developments support a bullish narrative, but the market always carries risk. The 2025 SOL price forecast remains hopeful—balancing optimism with a healthy dose of caution.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.